St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-15
FINANCIAL.
New York.

NEW YORK, March 14.-MoEey on call easy
at So to 6 per cent. Last loan at 80 per
cent and closed at BOA per cent. Prime mer-
camille paper, sac per cent. Sterling eX-
change weak at 1854 for sixty days and
S4.S1 for demand. The new week opened on
the stock exchange with moderately active
and weak market with more general distri-
button of the business and interest than has
been seen for some time. There was
marked disposition to buy shown by the for
eign houses early in the day, but the pressure
of stocks for sale and the persistent hammer
ing by the bears soon became too much for
the weak support given TO prices and gen.
eral decline. which affected the entire list,
followed. The general feeling was con-
siderably mixed, but the waiting policy
of the advocates of higher prices gave the
bears an opportunity to raid the railroads.
The market displayed considerable feverish-
ness, but soon became decidedly weak
throughout, while the Baltimore s. Ohio deal
still continues to be the principal disturbing
element. The weakness displayed, with ru
mors circulated in regard to Hooking Valley,
became a greater factor in creating bearish
temper. The stories circulated were to the
effect that the company is in serious financial
di ffcultes and that default is probable at
the next interest payment of skies. There was
considerable talk of a receiverShip as well.
Richmond West Point was next in order of
weakness there being very sharp pressure
on that stock. The general list sympathiZes
closely, although its movements were not
so wide. The bears used the increasing scar
city. of money very freely as lever to de-
press values. Although the closing rates
were low, the opening this morning was de-
cidedly strong and the advances over Satur-
days final figures ranged up to % per cent.
There were furthur small gains in the early
trading. but before the end of the first fifteen
minutes the market was declining under the
leadership of Hooking Valley, Richmond &
West Point and Union Pacific. After the first
hour there was period of dizziness, but the
pressure was soon reacted, and this tendency
continued until p. m: That time there was
fractional rally, which was followed in turn
by the loss of the small gains recorded. The
last hour showed much better feeling, and
the close was quiet but firm at small fractions
better than the lowest Of the day. The entire
list is lower this evening, though the losses
are for fractional amounts only, except
fer Hooking Valley, AZ, and Texas
ris & Essex was an exception at
in showing gain of IL per cent. Railroad
bonds syInpathized very closely with shares.
and the market was dull and heavy to weak
throughout the day. Sales to-day aggregated
s64, 900. Hooking Valley issues were the only
special features. and while the trading in
them was comparatively light, the general
SKIES are per cent. lower ut 70, and the con-
soils per cent lower at rs, after selling a: rs.
Other important declines comprise Baltimore
u Ohio IS per cont. to ITO, Utah Southern
extension lists declined 2sz to 81, Texas Pacific
income trust receipts 3 to II, Mobile g.
Ohio lists, debentures, 2 to 62. Gov
ernmeut bonds were dull and steady.
State bonds were duh but firm. The total
sales of stocks to-day were 301, go shares, in
Guiding:
Canada Southern $500 Northwestern. h.. $3.50
Del. Lack. & w .23. s00lN. J. Central. :. 3,6OS
Erie. 525 Reading. IA, 800
Hooking Valley IL, I'll St. Paul. Ii, 565
Kansas s. Texas. 4,125I Union Pacific. "a, $40
Lake Shore. go, 37sfW Union. &. .29, $50
Louis. & Nash. .. $1,000